Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) Sees Significant Decrease in Short Interest

Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 93,164 shares, a decrease of 39.1% from the May 14th total of 152,935 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 216,152 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Fidelity MSCI Real Estate Index ETF

Several hedge funds and other institutional investors have recently bought and sold shares of FREL. Jones Financial Companies Lllp boosted its stake in Fidelity MSCI Real Estate Index ETF by 1,833.6% in the first quarter. Jones Financial Companies Lllp now owns 13,632 shares of the company’s stock worth $374,000 after buying an additional 12,927 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Fidelity MSCI Real Estate Index ETF during the first quarter valued at approximately $303,000. JPMorgan Chase & Co. boosted its stake in shares of Fidelity MSCI Real Estate Index ETF by 33.6% during the second quarter. JPMorgan Chase & Co. now owns 56,975 shares of the company’s stock valued at $1,541,000 after purchasing an additional 14,334 shares during the period. Diversify Advisory Services LLC boosted its stake in shares of Fidelity MSCI Real Estate Index ETF by 26.8% during the second quarter. Diversify Advisory Services LLC now owns 50,011 shares of the company’s stock valued at $1,351,000 after purchasing an additional 10,574 shares during the period. Finally, Diversify Wealth Management LLC boosted its stake in shares of Fidelity MSCI Real Estate Index ETF by 2.3% during the second quarter. Diversify Wealth Management LLC now owns 150,809 shares of the company’s stock valued at $4,073,000 after purchasing an additional 3,321 shares during the period.

Fidelity MSCI Real Estate Index ETF Stock Performance

FREL traded down $0.22 during midday trading on Monday, hitting $29.73. The stock had a trading volume of 365,607 shares, compared to its average volume of 367,610. The company has a market cap of $1.47 billion, a P/E ratio of 34.96 and a beta of 0.98. The business has a fifty day moving average of $28.92 and a 200 day moving average of $28.09. Fidelity MSCI Real Estate Index ETF has a 1 year low of $26.37 and a 1 year high of $30.13.

About Fidelity MSCI Real Estate Index ETF

The Fidelity MSCI Real Estate Index ETF (FREL) is an exchange-traded fund that is based on the MSCI US IMI\u002FReal Estate 25-25 index. The fund tracks a cap-weighted index of US REIT and real estate companies across the entire market-cap spectrum. FREL was launched on Feb 2, 2015 and is managed by Fidelity.